The Singapore-listed shipbuilder has been awarded “High/New Tech Enterprise” (HNTE) status, cutting its corporate tax rate from 25% to 15%.
Jason Saw and Lee Yue Jer have maintained their buy rating on the company’s stock and lifted their target price to SGD 1.58 ($1.23) per share following the news.
The likelihood of further orders for offshore units as well as boxships in the 10,000-teu category provide further cause for optimism, the analysts said in a note to clients.
“We
